Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 6.2%

Rapport Therapeutics (NASDAQ:RAPP) shot up 6.2% during mid-day trading on Friday . The company traded as high as $21.81 and last traded at $21.81. 57,092 shares were traded during mid-day trading, a decline of 69% from the average session volume of 185,226 shares. The stock had previously closed at $20.53.

Analysts Set New Price Targets

RAPP has been the topic of a number of research reports. TD Cowen began coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price for the company.

Rapport Therapeutics Trading Up 6.9 %

The business has a 50 day moving average of $20.61.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.02). On average, analysts expect that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapport Therapeutics news, Director James Healy acquired 44,032 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were acquired at an average price of $24.52 per share, for a total transaction of $1,079,664.64. Following the acquisition, the director now owns 40,851 shares in the company, valued at approximately $1,001,666.52. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics in the second quarter valued at $86,730,000. TD Asset Management Inc purchased a new position in shares of Rapport Therapeutics during the second quarter worth about $2,361,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics during the second quarter worth about $58,105,000. Sofinnova Investments Inc. purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $45,393,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $116,000.

Rapport Therapeutics Company Profile

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.